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The world of crypto is changing with a lot of countries finding a way to embrace cryptocurrencies. The Japan Financial Services Agency recently issued operating licenses to 11 bitcoin exchanges, supporting the thought that projects like Karma are moving in the right direction.
While Japan is one of the key geographic markets for Karma, one of their other key markets is Russia. Karma’s founder, George Goognin, became the Vice Chairman of the Blockchain Experts Chamber to the Russian Parliament. This means Karma will have access to the newest legal developments and changes surrounding the blockchain and cryptocurrencies, impacting Russia, other countries, and their citizens, around the world.
Karma is a decentralized, peer to peer (P2P) platform instrumental in creating social and economic interactions between people all over the world.
Using blockchain technology, all the data is securely stored and automated, including electronic loan agreements and surety bonds, transfer of rights, class actions, deposits or collateral registrations. Karma’s platform processes the scoring of online credit application forms, securely, including the scoring of community members’ performance. Loans are available for the selling goods or services in the future, for example, selling real estate which is under construction.
Community members, or peers, can borrow or lend any assets including crypto assets, fiat currencies, mortgage through API, loans against housing, goods in transit, gold, and other assets. Users can create an infinite number of social and economic interaction options. Community members can choose loan conditions and credit terms, interest and collateral rates, and even cross-border international deals can be undertaken using different types of collateral assets (crypto, real estate, goods). Karma provides a multitude of solutions including loans without collateral, APIs for connecting to banks, credit scoring systems for individuals and businesses, insurance and real estate registers, and legal assistance.
The mission of Karma is to create a powerful impulse to assist in the development of entrepreneurs and grow the spirit of entrepreneurship all over the world, with a supportive society exhibiting the values of trust and assistance. To do so, Karma gives people from countries with inefficient financial systems access to financial and growth enabling resources, while investors from countries with low-interest rates have a possibility to invest in emerging markets.
“For Karma to offer the resources and services planned on our platform, we need to be at the forefront of fintech blockchain development. Karma contribute on a world stage by speaking as experts on panel discussions side by side with institutions like MOEX (Moscow Exchange, Russia’s leading legal exchange), conversing on topics including the evolution of the crypto community and the exchange services. In a couple of weeks, we will also be speaking at the Global Fintech & Blockchain Summit in Shanghai, and releasing our whitepaper. We invite everyone to stay informed with our developments on our Facebook or Twitter social media channels.”